I spoke with Rauel LaBreche on Frame of Reference about the shift from traditional banking to personalised finance. We discussed the challenges of displacing traditional banks and intermediaries, the influence of technology and decentralisation in finance, changes in financial products, and how the digital age affects society and finance.
Here are the main ideas from our talk:
● The conversation explores the shift from traditional centralised banking to personalised finance, where individuals can transact directly with each other without the need for intermediaries like banks.
● Regulation has extended the life of intermediaries in finance but decentralised finance (DeFi) platforms have also emerged. DeFi, however, is still not entirely decentralised due to some regulatory actions.
● The increased processing power of information, driven by technologies like GPT-3, allows for more meaningful and personalised financial transactions, ultimately changing the nature of financial products.
● Liabilities and assets will evolve in the digital age. Mortgages, for example, may become more liquid and serve different purposes.
● In the digital age, personal identity can be fluid and defined by avatars, reflecting the desire for self-expression and projecting different personas in various contexts.
Listen to the episode:
Apple Podcast:
Spotify Podcast:
